Mining Co. Reports Assay Results Near KSM-Treaty Creek Trend

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Goldstorm Metals Corp. (GSTM:TSXV; GSTMF:OTCMKTS; B2U:FSE) has reported gold-silver mineralization over a 407.55 m (meter) drilled interval at its 100%-owned Crown property in British Columbia's Golden Triangle. The October 21, 2026, results mark the first assays from a seven-hole drill program testing the Copernicus gold-silver-copper trend, located south of Newmont Corp.'s (NEM:NYSE; NEM:ASX; NEM:PNGX) Brucejack mine and Seabridge Gold Inc.'s (SEA:TSX; SA:NYSE) KSM project.

The reported results include higher-grade gold-equivalent (AuEq) intervals within a broader zone of mineralization. Goldstorm is investigating whether the mineralized rocks at Crown could form part of a larger system associated with the regional geological structures extending south from KSM and Treaty Creek. Four drill holes from the 2026 program still await assay results.

Key Investor Takeaways

• Hole OR-26-03 returned 0.39 grams per tonne (g/t) AuEq over 407.55 m, including 15 m grading 2.89 g/t AuEq.
• Hole OR-26-02 returned 13.9 m grading 0.80 g/t AuEq, including 3.7 m grading 2.07 g/t AuEq, with elevated silver (Ag) values.
• Mineralization occurs in strongly silicified volcanic rocks near a 1.2-kilometer (km) induced polarization (IP) chargeability anomaly.
• Assays from four additional holes and 216 outstanding surface rock samples could help guide follow-up exploration.
• Goldstorm has said it is planning an expanded 2027 drill program, including new drill platforms at High North.

Latest Drill Results at Crown

According to Goldstorm's October 21 news release, hole OR-26-03 intersected 407.55 m grading 0.39 g/t AuEq, beginning at a downhole depth of 114.45 m. The interval included several higher-grade sections:

• 15 m grading 2.89 g/t AuEq, including 0.37 g/t Au and 166.7 g/t Ag.
• 25.5 m grading 1.97 g/t AuEq, including 0.28 g/t Au and 111.5 g/t Ag.
• 79.5 m grading 0.77 g/t AuEq, including 0.13 g/t Au and 42.6 g/t Ag.
• 300 m grading 0.43 g/t AuEq, including 0.14 g/t Au and 18.7 g/t Ag.

The broad intercept contains a substantial silver component, with the higher-grade sections carrying particularly elevated silver values. It is important to note that these intervals overlap and should not be added together as separate mineralized widths.

Goldstorm also reported 13.9 m grading 0.80 g/t AuEq in hole OR-26-02, beginning at 325.1 m downhole. This included 7.05 m grading 1.30 g/t AuEq and a higher-grade interval of 3.7 m grading 2.07 g/t AuEq, with the latter containing 135.5 g/t Ag. Hole OR-26-01 was lost at 98 m after encountering a large void and returned no significant values.

According to the company, mineralization in OR-26-02 and OR-26-03 occurs within highly silicified felsic volcanic rocks along the western edge of the anomaly. Silicification refers to the addition or concentration of silica in rocks, which can occur during hydrothermal alteration associated with mineral systems. The reported lengths are downhole drill intervals; the true thicknesses of the mineralized zones have not yet been established. Gold-equivalent grades combine the estimated values of gold and silver, using a metal-price ratio specified by the company and assumed resoveries of 85% for each metal. The results are preliminary exploration findings, not a Mineral Resource Estimate (MRE).

Crown's Position Along the KSM-Treaty Creek Trend

Goldstorm's Crown property is situated south of Brucejack and Seabridge Gold's KSM property in the Golden Triangle. The company's Orion Spine target lies along a structural trend that management believes may extend southward from the gold-silver-copper systems at KSM and Treaty Creek. In the October 21 release, Goldstorm President and CEO Ken Konkin said the mineralization was associated with pervasive silicification and structural features that the company believes may be related to the regional deposits. He also noted that the drilled rocks include brecciated volcanic flows and tuffs, with base-metal sulfides, acanthite (a silver sulfide mineral), and gold.

Konkin suggested that deeper parts of the volcanic sequence could host an intrusive-related source for the mineralization. Because he believes favorable mineralized horizons at KSM and Treaty Creek occur lower in the geological sequence than the current Crown drill area, the company sees potential to test for a larger bulk-tonnage system at depth. That remains a geological hypothesis. The initial holes establish the presence of gold-silver mineralization, but further drilling is needed to determine its geometry, continuity, depth potential, and relationship to any underlying intrusive system.

Surface Sampling and the 2027 Exploration Plan

These drilling results follow Goldstorm's October 15, 2026, update on its 2026 exploration program, which also included reconnaissance rock sampling across the Crown property. The company collected 526 surface rock samples, primarily from the Delta, Mackie West, and High North concessions. Initial assays were available for 310 samples, with the company reporting:

• 25 samples grading above 0.5 g/t Au.
• 16 samples grading above 1 g/t Au.
• Six samples grading above 5 g/t Au.

Results for the remaining 216 samples were pending in the company's October 15 release. The company also referred to 24 sample shipments still awaiting results in its October 21 drilling update.

Rock samples are useful for identifying mineralized outcrops and prioritizing targets, but individual surface samples — particularly selected grab samples — do not establish the average grade or size of a deposit. Goldstorm said it was already planning an expanded drill program at Crown for 2027, including new drill platforms at High North. Results from the remaining drill holes and surface samples could help determine which targets receive priority in the next exploration phase.

The company holds a 100% interest in the Crown and Electrum projects, which together cover more than 16,000 hectares in the Golden Triangle.

Golden Triangle Exploration Context

Crown is located in a region with a long history of gold, silver, and copper exploration. The British Columbia Geological Survey's overview of the Golden Triangle describes the area as part of a geological belt containing numerous precious- and base-metal deposits, many of which are associated with the Hazelton Group of rocks and related intrusions. Brucejack and Red Chris are among the operating mines in the broader region.

Exploration activity across British Columbia has also increased. According to EY Canada's April 2026 report, mineral exploration and evaluation spending in the province reached CA$751 million in 2025, up 36% from 2024. Copper became the province's leading exploration target by spending for the first time in the survey's history. This broader investment environment is relevant to projects targeting combinations of gold, silver, and copper, although sector-wide spending does not indicate the likelihood of success at an individual property. The B.C. government's mineral exploration statistics also show that the province's northwest region accounted for 63%, of total provincial mineral exploration spending in 2024. 

Gold, Silver, and Copper Exploration on the Rise

Gold market conditions also provide context for exploration in the Golden Triangle. The World Gold Council's Q2 2026 Gold Demand Trends report, published July 30, 2026, reported that global gold demand, including over-the-counter investment, reached 2,522 tonnes in the first half of 2026, up 2% year over year.

The value of that demand reached a record US$380 billion. Central banks purchased 289 tonnes during Q2, while gold-backed exchange-traded funds experienced outflows as prices softened. 

Daniel Flynn and Jeff Clark from The Paydirt Prospector wrote that "assays from maiden drilling are here—and they're encouraging."

Silver is another important consideration for Crown because the reported drill intervals contain substantial silver values. The Silver Institute's World Silver Survey 2026 reported that global industrial silver demand declined 3% in 2025 to approximately 1,130.6 million ounces, its first annual contraction after four consecutive years of growth.

Reduced demand from photovoltaic applications was a major factor, offsetting some strength in areas such as electrical infrastructure, automotive applications, and electronics. The report projected a further decline in industrial demand in 2026, highlighting that silver-market conditions vary across end-use sectors.

Copper demand is projected to increase as investment in electricity grids, renewable energy, electric vehicles, and AI data centers expands. A 2026 S&P Global study forecast that global copper demand could rise from approximately 28 million metric tons in 2025 to 42 million metric tons by 2040, with a potential supply shortfall of 10 million metric tons if new production and other supply sources do not keep pace. 

Experts Encouraged by New Results

Daniel Flynn and Jeff Clark from The Paydirt Prospector weighed in on Goldstorm's news on October 22, 2026, writing that "assays from maiden drilling are here—and they're encouraging."

"There's clearly scale here. And the geology gives management reason to believe there could be something much larger below."

The writers listed two concerns: the grades are low, and the intersections are broad precious-metals intersections rather than gold intersections, which could lower the overall value.

The pair stated that shares were up 17% since the announcement, with investors responding positively to the news, though they won't be buying up shares just yet.

They said, "This is a good start at Crown, but one hole doesn't settle the grade question. If the remaining assays start backing up OR-26-03—and particularly if they improve on grade—we could have a reason to move back to Buy."

At this time, the recommendation remains at "Hold."

Catalysts to Watch

Potential Goldstorm investors should watch for the following catalysts:

• Results from the final four holes of the 2026 Crown program could help clarify the extent of mineralization along the Copernicus trend.
• Assays from the remaining 216 rock samples may identify additional areas for follow-up exploration.
• The company's planned expanded program, including new platforms at High North, could provide further information about the targets it considers most prospective.
• Future drilling will be needed to test management's hypothesis that a larger intrusive-related mineral system may exist below the currently tested volcanic rocks.

Ownership & Share Information¹

Goldstorm Metals Corp. has a market cap of CA$23.48 million, with 142.28 million shares outstanding. The company's 52-week range is CA$0.13-CA$0.29.

Strategic Investors own 19.07% of shares, while Management & Insiders own 0.22%. The remaining 80.71% of shares are Retail.

Common Questions From Investors

What did Goldstorm Metals discover at Crown?

The first reported results include 407.55 m grading 0.39 g/t AuEq in hole OR-26-03, with higher-grade sections including 15 m grading 2.89 g/t AuEq. The company also reported a shorter, silver-rich interval in hole OR-26-02.

What does gold equivalent (AuEq) mean?

Gold equivalent is a calculated grade that combines the estimated value of multiple metals — in this case, gold and silver — into a single gold-grade figure. The calculation depends on metal prices and other assumptions, so AuEq is not the same as the measured gold grade alone.

Does the 407.55 m intercept represent the true width of the mineralized zone?

No. The reported figure is the length of the interval drilled down the hole. The true thickness depends on the orientation of the mineralized zone relative to the drill hole and has not yet been established.

How is Crown related to KSM and Treaty Creek?

Crown lies south of Seabridge Gold's KSM property and the Treaty Creek deposits in the Golden Triangle. Goldstorm believes structural and geological features may connect its Orion Spine target to the broader regional mineral trend, but further work is required to establish the relationship.

What are the next catalysts for Goldstorm Metals?

The next potential catalysts include assays from the remaining four drill holes, outstanding surface rock-sampling results, and details of the planned 2027 exploration program.